Prince George cannot choose to not follow the new Short Term Rental Accommodation Act due to the city’s vacancy rate. The Act, effective December 7, 2023, prioritizes over local regulations and requires short-term rentals to be in a host’s primary residence, along with a secondary suite or accessory dwelling unit.
A motion by councillors Brian Skakun and Trudy Klassen to explore opting out of the act was discussed on December 4, 2023. However, the city’s rental vacancy rate of 3.7% in 2022 and 2.8% in 2023 disqualifies it from opting out of the Principal Residence Requirement.
The eligibility criteria for opting out require municipalities with a population over 10,000 and a rental vacancy rate of 3% or more for two consecutive years, as per the Canadian Mortgage and Housing Corporation (CMHC). Prince George’s earliest chance to seek an exemption is in 2026 if the vacancy data is 3% or more in 2024 and 2025.
The city reached out to Tourism Prince George and the Canadian Home Builders Association of Northern British Columbia for feedback, with only Tourism Prince George responding. CEO Colin Carson stated that they see all accommodations in Prince George as valued partners and acknowledged the positive aspects of the new rules in addressing housing issues and ensuring accurate data.
A report on the city’s ineligibility to opt-out will be discussed at the upcoming council meeting
